In a major drive initiated against fraudsters who are availing and utilizing fake Input Tax Credit (ITC) Thane Central GST Commissionerate, Mumbai CGST Zone has arrested a mastermind who had opened a firm M/s. Doshi Marketing and was operating from Bhayander West. He has indulged in fraudlent availment and utilization of Input Tax Credit to the tune of Rs 90.68 crores without receiving the goods or services in violation of the provisions of CGST Act 2017.
His firm was dealing in trading of Asbestos, cotton yarn, sewing thread etc and had fraudulently taken credit of Input Tax showing the value of goods amounting to Rs.503.80 crores. This was a paper transaction only without actual supply of goods and without filing of E-way bills.
The mastermind accused was arrested under provisions of CGST Act 2017 and was remanded to judicial custody till 5th of November by JMFC Court Thane.
In another two separate cases M/s. Trimurti Gems and M/s.Nikita Trading & Co operating in the Bhayander area who were also involved in activity of fraudulently availing and passing on the Input Tax Credit amounting to Rs.292 crores have also been booked. These firms were not active and their registrations had been cancelled. Efforts are on to nab the masterminds in these cases also.
Further investigation is under progress.